State won’t sell Telkom stake: minister
interested in selling its 40% stake in Telkom, communications minister Mondli Gungubele said on Tuesday.
The partnership will involve Telkom’s businesses such as the Openserve fibre unit, the government’s Broadband Infraco and broadcast transmission services provider Sentech, communications minister Mondli Gungubele said on Tuesday.“We have almost agreed on how the partnership will work, we are at modalities now,” Gungubele said in an interview at Telkom’s office in Pretoria. The government isn’t interested in selling its 40% stake in Telkom, the minister said.
The company’s shares, which have risen 3.3% this year, dropped 0.2% at 9.50am in Johannesburg. Telkom in March said it was seeking to sell a stake in Openserve and hired Bank of America to gauge interest from investors.
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